Newmont Corporation $NEM Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in Newmont Corporation (NYSE:NEM) by 114.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,402 shares of the basic materials company’s stock after buying an additional 13,024 shares during the period. Ritholtz Wealth Management’s holdings in Newmont were worth $2,057,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its position in shares of Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares in the last quarter. Concord Wealth Partners raised its stake in Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Newmont during the 3rd quarter worth $44,000. Finally, Capital A Wealth Management LLC boosted its stake in Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 478 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by company insiders.

Newmont Trading Down 0.0%

Shares of NEM stock opened at $114.17 on Friday. Newmont Corporation has a fifty-two week low of $40.85 and a fifty-two week high of $115.70. The company has a 50 day moving average price of $97.58 and a 200 day moving average price of $82.68. The stock has a market capitalization of $124.59 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. Equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s payout ratio is presently 15.53%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NEM. The Goldman Sachs Group raised their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. Citigroup reiterated a “buy” rating on shares of Newmont in a report on Monday, January 12th. TD Securities boosted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating and issued a $120.00 price target on shares of Newmont in a research report on Sunday, December 7th. Finally, Raymond James Financial lifted their price objective on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Newmont presently has an average rating of “Buy” and a consensus target price of $99.35.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.